According to Reuters, the Mortgage Bankers Association said that mortgage originations will fall next year to the lowest levels since 2000, forcing job losses for at least 30,000 more home finance professionals.
Reuters writes that Christmas orders for Chinese goods are up despite quality problems.
Reuters writes that Yahoo! (YHOO) exceeded profit forecasts taking pressure off management for the time being.
The Wall Street Journal writes that ClearBridge, the largest institutional holder in Cablevision (CVC), plans to vote against an LBO by the company’s founding family.
The Wall Street Journal reports that Citigroup (C), Bank of America (BAC), and JP Morgan (JPM) are seeking commitments of at least $80 billion under a plan to create a superfund to buy mortgage assets
The Wall Street Journal also writes that profits at Intel (INTC) rose 43% and profits at IBM (IBM) were up over 6%.
The Wall Street Journal writes that Microsoft (MSFT) will launch new business communications software which will combine instant message, email, and VoIP functions.
The WSJ also reports that MySpace and Skype have formed a partnership so that members of the social network can use the VoIP service.
The New York Times reports that as a looming battle with Roche approaches, Amgen (AMGN) is preparing to defend its anemia franchise, now worth $7 billion a year, through pricing and lawsuits.
The New York Times reports that Toyota (TM) lost its top spot in the Consumer Reports customer satisfaction survey.
The FT writes that the credit squeeze is forcing foreign investors out of US securities.
The FT reports that OPEC is blaming speculation for the rise in US oil prices.
The FT reports that Apple (AAPL) has dropped the price that it charges for music downloads not protected by digital right management software.
Barron’s reports that Movie Gallery’s (MOVI) Chapter 11 filing will likely wipe out common shareholders.
Douglas A. McIntyre
Are You Still Paying With a Debit Card?
The average American spends $17,274 on debit cards a year, and it’s a HUGE mistake. First, debit cards don’t have the same fraud protections as credit cards. Once your money is gone, it’s gone. But more importantly you can actually get something back from this spending every time you swipe.
Issuers are handing out wild bonuses right now. With some you can earn up to 5% back on every purchase. That’s like getting a 5% discount on everything you buy!
Our top pick is kind of hard to imagine. Not only does it pay up to 5% back, it also includes a $200 cash back reward in the first six months, a 0% intro APR, and…. $0 annual fee. It’s quite literally free money for any one that uses a card regularly. Click here to learn more!
Flywheel Publishing has partnered with CardRatings to provide coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.